CIMB Niaga pre-tax profit up 29.5% in first quarter

CIMB's Indonesian subsidiary, CIMB Niaga, reported a 29.5% year-on-year jump in pre-tax profit to two trillion rupiah (about RM607mil) in the first quarter of 2023.

KUALA LUMPUR: CIMB Group Holdings Bhd’s 92.5% indirectly held Indonesian subsidiary PT Bank CIMB Niaga Tbk reported a 29.5% year-on-year (y-o-y) jump in pre-tax profit to two trillion rupiah (about RM607mil) in the first quarter of 2023 (1Q23).

“We have begun 2023 by delivering another strong quarter with good performance for all business segments, on the back of solid loan growth and improved underlying asset quality indicators,” president director Lani Darmawan said in a statement.